Doubts grow on the virtual currency of Libra on Facebook



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The Libra, a Facebook virtual unit already heavily attacked by US President Donald Trump and global regulators, also faces skepticism from the wider cryptocurrency community.

One theme – besides the Brexit – has dominated the discussions between influential players in London financial technology or the financial technology industry on the eve of their annual meeting: the future of virtual currencies.

"May I ask you to raise your hand if you do not wish to use Libra?" asked the moderator during an event at the last 'FinTech Week' from London.

In the room, filled with a hundred experts and media who closely follow the sector, about two-thirds of the participants raised their hands to express their distrust of the emerging currency.

Helen Disney, founder and director of Unblocked Events, which promotes blockchain technology that powers many crypto-currencies, has recognized growing doubts about who exactly would monitor and regulate Libra's operations.

People are "concerned about how governance works …", said Disney AFP.

"The community of cryptocurrencies is very libertarian in its reflections, it is to give power to the people, to democratize finance, to move away from the big banks and companies that control the economy," she said. declared.

Last week's rally took place a month after Facebook announced to the world its plans for virtual currency.

Libra, which is widely seen as a challenger to the world's largest Bitcoin player, is expected to be launched in the first half of 2020.

While Bitcoin is decentralized, Libra will be co-managed by 100 corporate partners, including Facebook's new financial services division, Calibra.

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